Over the past month, SUI's market capitalization has tripled, with over a 100% increase in value, pushing it above $5 billion. However, as often seen with cryptocurrencies, such rapid growth can be followed by decline.
SUI's momentum appears to be stalling, as indicated by a 5% value drop and lower trading volumes. This suggests a waning interest in the token as the Chaikin Money Flow also declines, indicating reduced buying pressure.
The Relative Strength Index (RSI) suggests declining momentum, but a positive RSI turn could present a buying opportunity for investors confident in SUI's long-term potential. Analysts note a possible test of support at $1.70, which could trigger buyer interest.
SUI must overcome resistance at $2 to escape its downturn, as declining open interest shows traders closing positions. Despite cooling off, long-term projections anticipate a 240% rise in the next three months and 160% growth over a year, indicating a promising but challenging future.
